Political Quotes

“I would like to submit the following: Americans for Financial Reform, Washington, DC, September 18, 2014. Dear Representative: On behalf of Americans for Financial Reform (AFR), we are writing to urge you to oppose H.R. 4, the ``Jobs For America Act''. Division III of the legislation contains a number of extremely problematic provisions that would require regulatory agencies to satisfy dozens of additional mandates prior to any regulation of Wall Street, and which would create numerous additional opportunities for large financial firms to block any government action in court. AFR has joined the Coalition for Sensible Safeguards and dozens of other civil society organizations in a joint letter opposing these provisions. We would also like to draw attention to Title I of Division II of this legislation, the ``Small Business Capital Access and Job Preservation Act''. This legislation would exempt private equity fund advisors--who include some of the wealthiest and most significant entities on Wall Street--from registration and reporting requirements designed to allow regulators to protect investors and the public and monitor risk in the financial system. Prior to the Dodd-Frank Act, hedge and private equity funds received almost no regulatory monitoring, despite the fact that they manage some $3 trillion in assets in total on behalf of numerous investors, including many pension funds.…”